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Eclipse to Fuel Capex with $550MM Private Placement
Eclipse Resources Corporation reported the pricing of its previously announced private placement of senior notes to eligible purchasers under Rule 144A and Regulation S of the Securities Act of 1933, as amended.
The Company will issue $550 million aggregate principal amount of 8.875% senior unsecured notes due 2023. The Notes will be issued at a price of 97.903% of their face value. The offering is expected to close on July 6, 2015, subject to customary closing conditions.
The Company estimates that it will receive net proceeds of approximately $525.5 million, after deducting original issue discount, the initial purchasers’ discounts and estimated offering expenses, of which it intends to use approximately $510.7 million to finance the redemption of the Company’s outstanding 12.0% senior unsecured PIK notes due 2018. The Company intends to use the remaining net proceeds to fund the Company’s capital expenditure plan and for general corporate purposes.
Chairman, President and Chief Executive Officer
State College ,Pennsylvania ,16803
866.590.2568
Director, Executive Vice President, Secretary and General Counsel
State College ,Pennsylvania ,16803
866.590.2568
Director, Executive Vice President, Secretary and General Counsel
State College ,Pennsylvania ,16803
866.590.2568
Director
State College ,Pennsylvania ,16803
866.590.2568
Director
State College ,Pennsylvania ,16803
866.590.2568
Director
State College ,Pennsylvania ,16803
866.590.2568
Director
State College ,Pennsylvania ,16803
866.590.2568
Executive Vice President and Chief Financial Officer
State College ,Pennsylvania ,16803
866.590.2568
Executive Vice President and Chief Operating Officer
State College ,Pennsylvania ,16803
866.590.2568
Director
State College ,Pennsylvania ,16803
866.590.2568
Director
State College ,Pennsylvania ,16803
866.590.2568
Director
State College ,Pennsylvania ,16803
866.590.2568
Executive Vice President, Corporate Development and Geosciences
State College ,Pennsylvania ,16803
866.590.2568
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